MRPL Q2 FY26 – Sharp Turnaround with Strong Profit Recovery

Mangalore Refinery and Petrochemicals Ltd (MRPL) reported a remarkable turnaround in Q2 FY26. Sales declined 9% YoY to ₹22,649 crore due to softer crude prices, but profitability improved sharply. Operating profit (EBIDT) surged 414% YoY to ₹1,489 crore, driven by better refining margins and cost efficiencies. The company posted a net profit of ₹627 crore, compared to a loss of ₹697 crore a year ago, while EPS improved 190% to ₹3.58, reflecting a strong rebound in earnings. At a stock price of ₹142, with a market cap of ₹24,904 crore and a PE ratio of 24.0, MRPL delivered a solid recovery after a challenging base year.